Money Talk with Ed and Chuck

$6,000,000 for doing nothing.  A hospital CEO's job description. Leeches and blood letting is still practiced in most hospitals. Penicillin changes everything. Where are all of the candy stripers? Should Aaron Rogers work in a hospital? No one knows where your donations will end up.  

Free luch, dinner, and football tickets. The poor man's opportunity to be charitable. Unsolicited advice. Kill the messenger. Bill Gates needs people to know how much he gives. Polish people have no money. Why would you want a building named after you?

Feel good, you're in love. What's the value of anything? 3 people, 3 different values. Valuations for the government. C corps and S corps. Covid becomes a big diemma.    

Is polygamy a good idea? After two marriages you should have learned your lesson. Everyone likes to not be trusted. "Honey, let's start a business together". Everyone is greedy. Prenups, why not?

Divorces are the greatest source of revenue. Powder kegs are all around the family. How much money are you earning on my money? Pete and Charlie shouldn't own a business together. I want my name on a building.

Should I set up a corporation? "Muffins by Sue" Buy a new pair of shoes. Watch out for academic excellence. Should I get NetJets? Where's my limo? Shine my shoes.

There are too many taxes. 40% tax. I just lost $2,500,000. Tax free income is the way to go. Jeff Bezos pays no income tax, nor should you. It never makes sense to pay a tax. Don't give anything away during your lifetime.

Ed interviews world-renowned singer, Nathan Gunn.  

Ed and Chuck interview Kevin Evans Esq., a nationally recognized, Colorado-based trial attorney.

Never pre-pay a tax. The IRS gets it eventually. You need money to live. Day trading. It's exspensive to die. Ed likes Apple and Home Depot. Chuck likes everything.

Lawyers love family fights. Revenge is a dish best served by lawyers. In-laws don't matter. Earning money is a bad drug. Farmers don't know what they own. Plowing snow for $50,000. Ask a farmer how. Jack, the dog, picks winning stocks better than all financial advisors. Ed still doesn't have a new car. Follow your passions.  

Ed might give $15,000 to all Chicago Bears fans. Does Chuck have 150 descendants? Someday. Should I write a check to my 50 grandkids? No The IRS always changes the rules. Should your spouse be a US citizen? Maybe Amateur errors that professionals make. Voluntary taxes. Volunteer not to pay them. The only absolute. Don't die in Maryland. Are taxes punishment for earning money? Yes  

The art of giving it away. Magic number $11,579,999.99 Everybody is trying to take your money. 12 million dollar toothpaste. Chicken feed. Give it all to charity? Dancing with Ted Lewis. Who wouldn't want to? Win the lottery. Hide the cash in your basement closet. Free income for all? Artists living in barns. Good, bad, and spacious. No more payroll tax. Jobs are expensive.    

Ed and Chuck interview thefounder of Pfingsten Partners.  pfingsten.com

Dissolving a professional corporation. The dreaded double tax. $9.8 trillion Buy a sliced bread factory. Bad ideas never vanish. Everyone gets a 6% pay raise. There is no secret sauce. Ed's dog picks stock winners better than an investment adviser. Greek myths and the Internal Revenue Code. Charlie Chaplin was married 5 times.

Should you invest in apartments? Location, location, location. Don't sell your apartments, even after you die. Cap rates. Wind farms, solar farms, and good old-fashioned corn growing farms. The farmer says "you gotta eat". Only fall in love with dogs. The Economist says "no one should own a home, but keep buying our magazine". Kids aren't buying homes or cars. Apartments bring in a lot of cash. Ex...

Forget dealing drugs. Open up a hospital. Hospital CEO's coined the phrase "laughing all the way to the bank". The Me Too Movement. Hospital CEO's want special treatment when they get a manicure. Dogs receive better treatment than people. No one knows how much a new knee costs. Becoming a doctor doesn't equal financial freedom. In short, don't get sick and don't go near a hospital.  

The eternal optimist. "What do you do?" Some custodians clean floors, some make buckets of money. It's not hard for Ed to be surrounded by bright people. Jack Welch was a celebrity. It might rain frogs. The old guys have long tongues and all of the green. 25 million gets you premium content. The 4 delususions. Challenge executives at an open meeting. Snake in the shirt trick. Ed and Chuck are inte...

It's not Peter, Paul, and Mary stealing from you. The 12b-1. Investment advisors secret money machine. 3 proven ways to steal a clients money. Should you learn Chinese? Returning phone calls. Hiding fees behind bonds. Quick. Who says this? "I can steal your money and shine your shoes" Chuck likes low-skilled investment advisory firms. You don't need Chucks permission. 40 year old technology. Who t...

Sail your yacht and do nothing. The most infamous investment manager quote, "I will make you a multi-millionaire when you retire". The investment managers 1% skim-trick debunked. "My best friend is an investment manager." Should anyone ever say that? Car dealers and investment advisers mentioned in the same sentence. Hidden clue? "I'm a stock broker". Do people still say that? Investment advisors...

The most fascinating topic ever. Start a squirrel flying school. Banks don't loan money. Convinvce your family to work for free. Custodians have it made. How many times can you visit your grandkids? Pickleball anyone? American's are punished for working. Ed is run over by another truck. Lobster pot revisited. The ladies want a free ride in Ed's Buick.

The greatest thing since sliced bread. The cash balance pension plan. Everyone understands quantum physics. Protect your assets. People don't do what they should. I have a house in Nevada and Boca Raton. I own a bunch of cats. I'm Jay Leno. Live within your means. Chasing high income from wages is foolish. One paycheck a year. Borrow money. Take the leap. Few do.

Avoid income tax on over $300,000 of earned income. The best kept secret of the tax code. The old-fashioned pension plan. Politicians keeping numbers under wraps. Too much confusion. The best thing since sliced bread revealed on the next episode.

ESOP's Lawyers and accountants can't make hay from this. Everyone can have skin in the game. United Airlines and the Chicago Tribune. Avoiding taxes. The 80-20 rule reveals itself again. How can you determine the value of anything? Lose your job and your retirement tanks. Bad day. Putting eggs in one basket. Directors should have a lot of skin in the game. How much? Spending other people's money....

Ed and Chuck differentiate between the various qualified arangements. Defer as much as you possibly can. We are not looking to scratch anyone's back. "Ed you are an obnoxious SOB but your results aren't too bad".